All Forum Posts by: Wallace Pendleton

@Paul F.

I schedule individual showings 30 minutes apart. It gives me a chance to actually talk with the tenants to get to know them to see if they will be a good fit and someone to deal with. Asking them questions, to see how they answer and react to certain questions. Also allows you if they are possible smokers or not. Just gets you an overall feel for the person. Also let’s you see who makes it a priority to show up timely, or who is communicating with you if they are running late. Almost like a job interview but for your property.

@Mike Wesling can you message me your realtor in the st Joe's area as well as the company you use for cleaning and other maintenance (lawn care, snow removal, etc)? Looking into buying a vacation home in the area that will double as a STR.

Hi,

Looking for an investor friendly real estate agent in Galena, il. Looking to purchase a second home/vacation home that will also be used for short term rental.

@Mark Ainley of GC Realty for sure.

@Paul Welden what lender did he use to get 5% down for an investment property? Unless he’s actually living in one room and renting out the others.

@Marlen Weber how do you go about finding apartment syndications?  I’ve been interested in investing in one, but don’t just want to ask people randomly if they have an apartment syndication or not. 

@Merri Chocola they have a lot of options, many more than the average joe. They can either invest in the Chicagoland area or do out of state investing. If they’re looking for bang for their buck, then out of state investing preferably in the south where prices and taxes are low would be best. But the appreciation probably won’t be there as much as it will be in the Chicagoland area. So it really up to them, if they’re looking for more cash flow right away or less cash flow now but higher resale value later.

@Chris Reyes to make sure my children have better options when they become adults than I did. Financial freedom for them and generational wealth.

House Hacking.  I would have literally house hacked 1 piece of property every year throughout my twenties up until I had kids.  I'm actually going to push really hard for my kids to do it as soon as they turn 18 (with help from my financing).  But yea that's the one and only thing i would have known earlier on and the benefits of it. 

@Alejandro Ferrer taxes are extremely high in the area, neighborhoods are rough and the rents are low. Through some research I’ve noticed that not much was going on in the area to reduce the taxes in the future. If taxes were cheaper or you could get the right amount for rent, then go all in. Run the numbers obviously in any of the properties but don’t forget what the mortgage would be with the taxes.